For-Profit ITT Tech Closes Amidst Federal Inquiries
On Tuesday, Sept. 6, 2016, ITT Tech, the for-profit college, announced that they would be ceasing operation and would be closing all locations nationwide. ITT Tech operated 140 locations in 35 different states.
The closures come in the wake of federal investigation into the for-profit college’s revenue stream. In August, the Department of Education banned ITT Tech from enrolling new students who used federal aid loans to pay tuition. The reasoning being that a for-profit college should not use federal student loans to gain revenue. Some have speculated that the closure of the one of the largest for-profit college networks in the country will lead to the end of all for-profit colleges in the US, or at the very least, a drastic reduction in students enrolled.
Questions still remain on what will happen to currently enrolled students and the tuition they have already paid to the college. It seems unlikely that the college would refund the students their tuition, and it would be up to the students to find another institution to attend.
While students here at Pacific have been less than ecstatic about tuition rates, at least we have the privilege of being able to use federal loans to attain an education and appreciate that Pacific is not facing a total closure any time soon.